Intuitive Machines, Inc. operates as a space infrastructure and services company in the United States.MoreShow less
Profile & Fundamentals
Intuitive Machines (LUNR.NASDAQ) Profile & Fundamentals
Review Intuitive Machines reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
Intuitive Machines: Company Profile & Ownership
Intuitive Machines, Inc. operates as a space infrastructure and services company in the United States. The company provides delivery services for the transportation and delivery of payloads, such as satellites, scientific instruments, and cargo to various destinations in space, rideshare delivery, and lunar surface access; data transmission services, which include the collection, processing, and interpretation of space-based data, as well as utilizing AI applications, such as command, control, communications, reconnaissance and prospecting; and infrastructure as a service solutions for navigation, maintenance, scientific data collection, and system health monitoring. It also offers Nova-C lunar lander that combines flight-proven with a scalable design to meet the demands of the emerging lunar economy; Micro Nova Hopper develops propulsive drone that is designed to land, deploy, and hop on the company's IM-2 mission; and Nova-D developed to transport critical payloads, including infrastructure services, such as fission surface power systems, lunar terrain vehicles, and rovers enabling sustainable lunar exploration and development. In addition, the company provides lunar data network. It serves its products to the U.S. government, which include NASA, national security space, U.S. department of Defense, and state governments; commercial; and international customers. The company was founded in 2013 and is headquartered in Houston, Texas.
Company profile record
Intuitive Machines Inc.
Common Stock · Industrials · Aerospace & Defense
Company
- Company / asset
- Intuitive Machines Inc.
- Security type
- Common Stock
- Sector
- Industrials
- Industry
- Aerospace & Defense
- HQ
- 🇺🇸 United States
- Head office
- 13467 Columbia Shuttle Street, Houston, TX, United States, 77059
Leadership & scale
- Chief executive
- Mr. Stephen J. Altemus
- CEO year born
- 1964
- Full-time employees
- 525
- Fiscal year end
- December
- IPO date
- 2021-11-17
Fundamentals snapshot
- Market Cap
- USD 1.9B
- P/E
- --
- Revenue (Q2 26)
- USD 206.2M
- Profit (Q2 26)
- USD -46.4M
- Dividend Yield
- --
- Revenue (FY 25)
- USD 210.1M
- Shares in public float
- 131.6M
- Insider ownership
- 5.05%
Reporting & identifiers
- Symbol
- LUNR.NASDAQ
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US46125A1007
- Asset ID
- equity_8575df20-9c5a-5044-bb52-0e0b3ecc9d93
Intuitive Machines: Ownership
Shares Outstanding
Latest: 162.2M | Max: 162.2M | Min: 18.1M
Latest reported ownership snapshot
Float Shares
81.16%
131.6M latest reported shares
Insider Ownership
5.05%
Latest reported insider stake
Short Float
0.29%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2021-01-01 | 18,070,300 |
| 2022-01-01 | 18,070,300 |
| 2023-01-01 | 21,029,900 |
| 2024-01-01 | 61,410,300 |
| 2025-01-01 | 119,329,000 |
| 2026-01-01 | 162,172,500 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| Advent International LP | 22,991,028 | 14.24% | 2026-06-30 |
| BlackRock Inc | 12,235,626 | 7.58% | 2026-06-30 |
| State Street Corp | 9,962,216 | 6.17% | 2026-06-30 |
| Mirae Asset Global Investments (Korea) Co Ltd | 6,822,991 | 4.23% | 2026-06-30 |
| Vanguard Capital Management, LLC | 6,180,117 | 3.83% | 2026-06-30 |
| Two Sigma Investments LLC | 5,752,300 | 3.56% | 2026-06-30 |
| D. E. Shaw & Co LP | 4,988,251 | 3.09% | 2026-06-30 |
| Vanguard MStar Total Stk Mkt Idx Invest | 4,978,571 | 3.08% | 2026-09-30 |
| VanEck Space Innovators ETF A USD Acc | 4,947,195 | 3.06% | 2026-10-30 |
| Stt Strt® SPDR® S&P® Arspc & Dfnc ETF | 4,418,737 | 2.74% | 2026-10-30 |
| Vanguard Portfolio Management, LLC | 4,016,660 | 2.49% | 2026-06-30 |
| Van Eck Associates Corporation | 3,845,950 | 2.38% | 2026-06-30 |
| Renaissance Technologies Corp | 3,723,200 | 2.31% | 2026-06-30 |
| iShares Russell 2000 ETF | 3,544,353 | 2.2% | 2026-10-30 |
| VOYA INVESTMENT MANAGEMENT LLC | 3,446,711 | 2.14% | 2026-06-30 |
Intuitive Machines: Earnings, Profitability & Valuation
Latest Financials Filed On
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Intuitive Machines experienced a massive revenue inflection in 2026, with second-quarter revenue reaching 206.2 million dollars compared to 50.3 million dollars a year earlier. This explosive top-line surge was driven primarily by consolidating Lanteris Space Systems rather than organic lunar exploration growth. Headline numbers mask an underlying net loss of 46.4 million dollars, weighed down by heavy amortization, integration expenses, and contract revisions on early flight articles. The critical financial takeaway is that accounting scale has expanded much faster than actual cash generation. Contract backlog has reached a record 1.8 billion dollars, but converting this paper pipeline into real earnings is difficult. Until high-margin satellite services begin generating positive operating income, rapid top-line growth will continue consuming working capital.
Intuitive Machines experienced a massive revenue inflection in 2026, with second-quarter revenue reaching 206.2 million dollars compared to 50.3 million dollars a year earlier. This explosive top-line surge was driven primarily by consolidating Lanteris Space Systems rather than organic lunar exploration growth. Headline numbers mask an underlying net loss of 46.4 million dollars, weighed down by heavy amortization, integration expenses, and contract revisions on early flight articles. The critical financial takeaway is that accounting scale has expanded much faster than actual cash generation. Contract backlog has reached a record 1.8 billion dollars, but converting this paper pipeline into real earnings is difficult. Until high-margin satellite services begin generating positive operating income, rapid top-line growth will continue consuming working capital.
Revenue, Net Income, and Free Cash Flow
Latest: USD 210.1M | Max: USD 228.0M | Min: USD -283.4M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 1x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability margins show early signs of recovery but remain depressed by developmental overhead. Second-quarter 2026 gross margin reached 17.4%, generating 35.9 million dollars in gross profit compared to gross losses in the prior year. This turnaround reflects the integration of higher-margin commercial and defense satellite manufacturing, which helps balance out volatile lunar research contracts. However, overall operating margins remain deeply underwater at negative 27.5% over the trailing twelve months. Fixed-price government contracts continue to suffer from cost overruns, such as a recent 14.7 million dollar contract write-down on the IM-4 mission. Sustaining gross margins above 20% requires transitioning from low-margin prototype fabrication into recurring, software-like cislunar data transmission services.
Profitability margins show early signs of recovery but remain depressed by developmental overhead. Second-quarter 2026 gross margin reached 17.4%, generating 35.9 million dollars in gross profit compared to gross losses in the prior year. This turnaround reflects the integration of higher-margin commercial and defense satellite manufacturing, which helps balance out volatile lunar research contracts. However, overall operating margins remain deeply underwater at negative 27.5% over the trailing twelve months. Fixed-price government contracts continue to suffer from cost overruns, such as a recent 14.7 million dollar contract write-down on the IM-4 mission. Sustaining gross margins above 20% requires transitioning from low-margin prototype fabrication into recurring, software-like cislunar data transmission services.
Profitability Margins
Latest: 15.6% | Max: 79.0% | Min: <-100.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
15.6%
Gross profit / revenue
Operating Margin
-41.5%
Operating income / revenue
Net Margin
-39.7%
Net income / revenue
FCF Margin
-26.7%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2020-12-31 | 44,257,000 | -4,252,000 | 5,596,000 |
| 2021-12-31 | 72,550,000 | -35,648,000 | -19,744,000 |
| 2022-12-31 | 85,946,000 | -6,405,000 | -15,621,000 |
| 2023-12-31 | 79,521,000 | 62,804,000 | -75,190,000 |
| 2024-12-31 | 228,000,000 | -283,413,000 | -67,698,000 |
| 2025-12-31 | 210,059,000 | -83,294,000 | -56,015,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2023-12-31 | 0.9 | Trailing four quarters |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2020-12-31 | 3.84 | -9.93 | -9.61 | 12.64 |
| 2021-12-31 | -38.26 | -52.22 | -49.14 | -27.21 |
| 2022-12-31 | 12.14 | -6.41 | -7.45 | -18.18 |
| 2023-12-31 | -26.35 | -70.72 | 78.98 | -94.55 |
| 2024-12-31 | 16.5 | -25.17 | -124.3 | -29.69 |
| 2025-12-31 | 15.62 | -41.53 | -39.65 | -26.67 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-10.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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